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Tag: CFO

  • Apple’s Tim Cook’s handpicked CFO Kevan Parekh takes office

    Apple’s Tim Cook’s handpicked CFO Kevan Parekh takes office

    MUMBAI: Is 12 a lucky number?

    Some may question the logic, saying there’s no such thing as luck. 

    But a dozen years proved extremely good for Kevan Parekh, who was handpicked by Apple CEO Tim Cook to become the CFO of Apple during his twelfth year with the company. Just as the clock hit the 12 midnight mark in New York on 31 December and the ball was beginning to drop in Times Square, Kevan’s term as the CFO commenced.

    Kevan, an Indian origin executive, joined Apple in June 2013 and has played a key role in its financial and business planning, and product development planning since then. Prior to becoming CFO, he served as Apple’s vice president of financial planning and analysis. Before that, he served as Apple’s vice president of worldwide finance, supporting a number of different functions throughout his tenure, including engineering, iTunes, marketing, retail, and sales.

    His pay package is speculated to be  $1 million a year, plus participation in the company’s executive cash incentive plan for fiscal 2025.

    Kevan, succeeds Luca Maestri, who was appointed  CFO in 2014, and he will be reporting directly to Cook. As CFO, Kevan will be overseeing Apple’s accounting, business support, financial planning and analysis, treasury, investor relations, internal audit, and tax functions.

    Maestri on his part continues to be part of Apple overseeing its corporate services teams. His responsibilities will include managing information systems and technology, cybersecurity, and real estate and development.

    Before joining Apple, Kevan worked for eight years with General Motors in New York and then Europe. He returned to New York to join Thomson Reuters and stayed put as vice-president of finance (professional division) and then as corporate treasurer till 2013. 

    Kevan has a solid academic background and holds a bachelor science degree in electrical engineering, and an MBA from the University of Chicago which he  completed in 2000 with a major in finance and strategic management.  

  • Global digital agency Dept brings in David Neal as CFO

    Global digital agency Dept brings in David Neal as CFO

    MUMBAI: He is getting on board to get to the depth of finance in tech and marketing services agency Dept.  Former global CFO for Dentsu Creative and Tag, David Neal has joined the close-to-30-year old digital agency as its new global chief financial officer (CFO). In this role, David Neal will bring together the global finance and operations team at Dept, driving innovation and streamlining processes by positioning finance as a strategic partner to the business.

    “During my conversations with the leadership team and colleagues, I was invigorated by the energy and ambition within Dept,” said Neal. “I realised this is a place where we can do things differently. I hope to transform finance into a true strategic partner, providing insights, analysis, and driving commercial growth.”

    David brings substantial experience as a chief financial officer, with a proven track record in the marketing and advertising sectors across south and southeast Asia and global leadership positions.

    In his new role, David will  be based in London. He will leverage his extensive background to redefine the finance department as a strategic ally within Dept, enhancing collaboration with other business units—especially operations, and people & culture. Neal has been mandated to  harness the potential of AI to transform financial processes, fostering a culture of relentless curiosity and innovation.

    “At Dept,  we’re all about keeping innovation at the core of everything we do. By bringing our finance and operations teams closer together, we are merging two key business areas to drive strategic growth. David will help us unlock new opportunities and ensure that innovation remains at the heart of everything we do,” says Dept global CEO Dimi Albers.

    Neal is stepping into the role as Mickey Kalifa moves on after two years with the company. 

    In the past two years, the company has welcomed seven agencies and achieved remarkable growth, with revenues increasing by over 200 per cent. This impressive performance is heavily supported by its AI services; currently, 50 per cent of its global revenue is AI-enabled. Dept continues to set industry standards as a B-corp-certified agency. It works with top-tier brands like Google, KFC, Philips, Audi, Twitch, Patagonia, and eBay, has offices in 30 countries and employs close to 4,000 digital specialists.

  • Storage work collab platform LucidLink makes two senior hires

    Storage work collab platform LucidLink makes two senior hires

    MUMBAI:  California-headquartered LucidLink, the storage collaboration platform that frees creative teams to work together from anywhere, is gearing up for its next phase of accelerated growth with two powerhouse leadership hires.

    Building on its success in the creative industries, LucidLink is extending its reach into new markets as it redefines how companies connect and collaborate with their data. To lead this expansion, the company has appointed Mike Maimone as chief revenue officer (CRO) and Gregor McCole as chief financial officer (CFO). With proven expertise in scaling high-growth SaaS companies, Mike and Gregor are set to supercharge LucidLink’s mission to make data instantly and securely accessible from anywhere. 

    LucidLink has achieved remarkable growth, which has been further fuelled by its $75M Series C investment round at the end of 2023, new brand re-launch in April and the recent release of its next-generation product, which transforms how teams access, share and collaborate with data. These milestones mark a major inflection point as LucidLink extends its extraordinary impact on the creative industries into other data-dependent verticals.

    Looking ahead to 2025, LucidLink is poised to launch new platform offerings that will shape the future of collaboration and simplify workflows for all enterprises.

    “Mike and Gregor bring outstanding expertise to LucidLink at a pivotal time as we redefine global file access, collaboration, and productivity for businesses worldwide. Mike’s strategic leadership will drive our expansion into new verticals and regions, while Gregor’s deep financial acumen across private and public enterprises will be essential in navigating our accelerated growth,” said CEO & co-founder Peter Thompson.

    Mike Maimone, an experienced software executive, brings a proven record of driving customer engagement and accelerating revenue. At ZoomInfo, he recently led the enterprise customer division, generating $330M in revenue and growing emerging products to $75M ARR. As LucidLink’s CRO, Mike will oversee global sales, customer success, and partnerships, focusing on scaling the company’s presence in new and existing markets.

    “LucidLink’s trailblazing technology is a game-changer, and I’m thrilled to spearhead our expansion into untapped markets,” said Mike. “There are tremendous opportunities ahead not only to expand within our customer base but also to get LucidLink into the hands of more and more industries.”

    Gregor McCole, with deep experience in leading high-growth SaaS companies, joins as CFO to drive LucidLink’s financial strategy. Previously, he led Arctic Wolf Networks through significant valuation growth, increasing ARR by 10x and overseeing three funding rounds that propelled the company’s value to $4.3B. Gregor will guide LucidLink’s financial operations as the company continues its rapid expansion.

    ”LucidLink is uniquely positioned to redefine creative collaboration, and I’m eager to help drive its financial strategy during this pivotal moment,” said Gregor. “The unparalleled platform innovation and tremendous market demand will ensure even greater success during this time of incredible growth.”

  • Twitter sacks slew of people across teams in India

    Twitter sacks slew of people across teams in India

    Mumbai: In another series of ‘Twitter’ events, billionaire Elon Musk has sacked a hefty number of people across the marketing and communications team of the social media group’s India office.

    Considering the slew of proceedings, Musk has been on a sacking spree with a firm intention to cut costs.

    Indiantelevision.com tried contacting a senior executive from the Twitter India team, but there was no response.

    In this chain, Twitter US senior director – global head of consumer product marketing Justin Taylor also revealed in a Tweet that today was his last day at the social media platform.  His tweet reads, “Today was my last day at Twitter. Proud of the work I did, and the people I worked with, especially my team. My DM’s are open for any new opportunities, but for now will take the weekend to appreciate what matters most, my family.”

    Musk, who took over Twitter last week, hasn’t spoken publicly about layoffs. As soon as he stepped foot in and purchased the social media firm for $44 billion, Musk has fired the people at the helm of the firm – CEO Parag Agrawal, CFO Ned Segal and head of legal affairs and policy Vijaya Gadde. Ever since, rumours have been rife that employees would be laid off from the company, and approximately 25 per cent to 75 per cent employees would lose their job, as per reports.

  • 9X Media’s Bhupendra Makhi starts his new innings as CEO

    9X Media’s Bhupendra Makhi starts his new innings as CEO

    Mumbai: The largest music broadcaster, 9X Media has elevated Bhupendra Makhi to the position of chief executive officer (CEO). The new role allows him to spearhead strategic business developments for the company. His vivid experience will facilitate strengthening the company’s objectives and focus on areas to build business for the long term. Having a proven track record of producing excellent results, he will focus to embark on a new journey and take 9X Media to a higher level of growth by engaging audiences through its disruptive content.

    Bhupendra brings extensive knowledge of the financial sector as well as an impressive track record in the media & entertainment industry.

    During his long tenure with 9X, Bhupendra was also the company’s chief financial officer (CFO), having risen through the ranks from vice-president of finance. He has been with the company since 2007.

    Commenting on his elevation as CEO, Bhupendra Makhi said, “I am grateful to our investors and the board for entrusting me with this role. 9X Media has reached an important stage, having met significant milestones, and achieving positive performance. We remain highly encouraged and I look forward to continuing to work closely with all the teams for the benefit of the company and creating value for our stakeholders.”

  • Shemaroo Entertainment elevates Amit Haria as CFO

    Shemaroo Entertainment elevates Amit Haria as CFO

    Mumbai: Shemaroo Entertainment Ltd on Wednesday announced the promotion of Amit Haria as the chief financial officer (CFO). Prior to this, he was the vice president-accounts and finance and a key member of the executive leadership team at Shemaroo.

    In his new role, Amit will be leading the financial and business affairs of the company.

    Haria has been associated with Shemaroo for almost 15 years. He was instrumental in steering the company’s Initial Public Offer (IPO) successfully in 2014. His expertise in financial management and strategic planning has ensured smooth functioning of all systems with compliance being taken care diligently.

    “We are delighted to announce this new development and congratulate Amit on his new role,” Shemaroo Entertainment CEO Hiren Gada said. “Amit’s promotion is aptly timed as we are ready for the leap to lead the exciting future of entertainment, I am confident that he will bring a valuable, holistic perspective to drive our ambitious growth plans while staying true to our vision and core values.”

    Haria has a rich experience of over 22 years in the field of finance and accounts. He is a qualified chartered accountant from the Institute of Chartered Accountants, and a commerce graduate from the University of Mumbai. He holds a Diploma in Information Systems Audit (DISA) and Certified Information Systems Auditor (CISA). Some of his core competencies include raising finance, strategic/financial planning, management of offshore subsidiaries, problem resolution, cash flow management, and liaising with banks, amongst others.

    “I am excited to take up the new role and steer the company’s growth aligned with its overall ambitions,” said Amit Haria. “I am truly inspired by the organisation’s work ethics, its culture of innovation, and the core values upon which its foundations rest. This is an exciting time for the media and entertainment industry and I am thrilled to be a part of this new exhilarating journey.”

  • Reshamandi appoints Ritesh Kumar as CFO

    Reshamandi appoints Ritesh Kumar as CFO

    Mumbai: ReshaMandi, a homegrown digital ecosystem for natural fibre supply chain has appointed Ritesh Kumar Talreja as chief financial officer. 

    In his new role, Ritesh will lead the company’s finance function where he will manage corporate development from a debt raising and M&A standpoint, said the statement.

    Ritesh has a rich experience of over 14 years in advising businesses on matters pertaining to fundraising, mergers and acquisition, structuring private equity investments and other corporate transactional matters in public and private space. 

    Previously, he was leading the IndusLaw’s Tax practice group as executive director. Before that, he spent 10 years at EY India, including advising clients in the areas of corporate governance, risk management and business performance improvement during this stint.

    “We are thrilled to have Ritesh on board. His extensive experience in corporate law and financial control will enable us to chart a solid growth path. I am confident that his expertise will help our company grow by huge leaps,” commented ReshaMandi founder and CEO Mayank Tiwari. “He complements our strong performance-oriented culture, and we believe his impressive track record of execution and achieving results qualifies him to lead our finance operations.”

    Being a chartered accountant, Ritesh is also a part of the Advocacy Committee with the Indian Association of Alternate Investment Funds. Over the years, he has also advised companies on international taxation matters, direct tax issues related to structuring cross-border transactions and identifying tax planning opportunities with an overall objective to achieve a tax-efficient structure in India. 

    He has robust experience in handling direct tax litigation matters across Indian appellate tribunals (including being an advisor to clients in devising tax litigation strategy) and tax policy representations before the Central Board of Direct Taxes (CBDT), the apex direct tax administration body of India.

    Speaking about his appointment, Ritesh said, “Unlike a conventional CFO, a new-age finance leader has multiple roles, especially in a start-up ecosystem which is extremely dynamic. I will be working closely with the founders on significant areas like establishing an effective financial infrastructure, ensuring compliance, leading fundraising conversations, financial planning and analysis, and cash flow tracking.”

     

  • Wow Skin Science brings in Anurag Mittal as CFO

    Wow Skin Science brings in Anurag Mittal as CFO

    Mumbai: FMCG personal care brand Wow Skin Science has announced the onboarding of Anurag Mittal as chief financial officer, where he will head the business and corporate finance vertical for Wow Skin Science and Body Cupid. 

    “In this role, Mittal’s portfolio will range from financial operations, financial planning & analysis to strategic finance & business partnering,” the company said in a statement on Monday.

    “We welcome Anurag onboard as our company CFO and believe he will be a great addition to the Wow Skin Science family,” commented Wow Skin Science co-founder Manish Chowdhary. “As an experienced and a qualified financial professional, we look forward to his insights in setting a mid and long-term financial strategy for the brand. With him, we look forward to creating collaborative and participative interface for finance as well as operations.”

    With his career spanning over 16 years, Mittal has led mandates for brands such as Snapdeal, Paytm, Nokia, PWC and Deloitte, offering his expertise in finance and accounts along with skills in diligence and fund raising, investor relations, treasury operations and investment management. 

    “The growth of a brand lies in it’s analysis led strategic expansion and risk taking, that are worth. At Wow, I plan to propel a culture of security and emphasise on driving performance, ensuring integrity and accuracy of company information,” said Anurag Mittal. “I look forward to enhancing the brand’s valuation and achieve systematic growth.”

  • Zeel appoints Rohit Gupta as CFO

    Zeel appoints Rohit Gupta as CFO

    MUMBAI: Zee Entertainment Enterprises Ltd (ZEEL) has announced the appointment of Rohit Gupta as the CFO and will report to Zeel MD and CEO Punit Goenka.

    In his new role, Gupta will be spearheading the fiscal and financial management aspect of the company. He will also be responsible for the development of operational and financial strategy and monitoring of control systems designed to preserve the company assets.

    Gupta comes with a rich experience of 25 years in domestic and international markets in various aspects of business including managing operations, shareholder and investor expectations, risk management, business planning, process implementation, fiduciary governance, accounting, finance, taxation, revenue management, treasury, forex, fraud management and cost minimization, and financial management. Having a strong record of turning around businesses, he has successfully led the business restructuring and realignment exercises to enhance profitability and market capitalisation.

    Prior to joining ZEEL, Gupta was associated with the Chaudhary Group where he was responsible for the roll-out of 5G ready telecom network in Nepal. Previously, he has also worked with leading corporations like the DCM Shriram group, Hero Group, Hutchinson Max, British Telecom, Bharti Airtel, Virgin Mobile, NIIT and Brightstar India.

  • Netflix CFO David Wells to quit

    Netflix CFO David Wells to quit

    MUMBAI: After a 14-year stint in the company, Netflix chief financial officer David Wells plans to step down. Since 2010 Wells served as the CFO, at a time when Netflix started to see its growth. However, he will leave after helping the company choose his successor.

    The search for new CFO will include both internal and external candidates. In post-Netflix life, Wells intends to focus more on philanthropy.

    “After discussing my desire to make a change with Reed [Hastings, Netflix’s chairman and CEO], we agreed that with Netflix’s strong financial position and exciting growth plans, this is the right time for us to help identify the next financial leader for the company,” Wells said.

    He was one of the key members who helped Netflix during its aggressive international expansion as well as to up its $8billion content spend through a debt-fuelled fund. During his tenure Netflix’s subscriber numbers went up from 23.6 million during the first quarter of 2011 to more than 124 million as of the second quarter of 2018.

    “David has been a valuable partner to Netflix and to me. He skillfully managed our finances during a phase of dramatic growth that has allowed us to create and bring amazing entertainment to our members all over the world while also delivering outstanding returns to our investors,” Netflix CEO Reed Hastings said.